The X Prize Foundation, which Ansari X Prize [wiki] for a privately funded spacecraft was won by SpaceShipOne [wiki] in 2004 (left pic), is now offering a new prize: the Automotive X Prize.

The contest will require vehicles to meet tough emission requirements and get 100 miles per U.S. gallon (about 42 kilometres a litre). The current average fuel economy of U.S. vehicles is about 20 miles per gallon (nine km/l).

The competition is intended "to inspire a new generation of viable, super-efficient vehicles that help break our addiction to oil and stem the effects of climate change," the foundation said on its website.

Link | Automotive X Prize website - Thanks David R!